Price Movements - On November 8, 2024, the Shanghai gold futures price fell by 2.26% to 615.48 CNY/g, while COMEX gold futures dropped by 1.97% to 2691.70 USD/oz[2] - Gold T+D spot price decreased by 2.31% to 612.87 CNY/g, and London gold spot price fell by 1.89% to 2684.04 USD/oz[2] - The overall adjustment in gold prices was significant, with a notable recovery to around 2700 USD/oz following the Federal Reserve's interest rate cut[2] Market Trends - The market anticipates a weak fluctuation in gold prices for the week of November 11, 2024, due to profit-taking pressures from the "Trump trade" and upcoming U.S. inflation data[3] - The U.S. October CPI and PPI are expected to remain sticky, potentially leading to a decline in gold prices[3] Economic Indicators - The U.S. ISM Services PMI for October reached 56.0, the highest since July 2022, indicating economic resilience[15] - The Federal Reserve cut the federal funds rate by 25 basis points to a range of 4.5% to 4.75% on November 8, 2024, aligning with market expectations[20] Currency and Inflation Expectations - Following Trump's election victory, the U.S. dollar index rose by 0.60% to 104.95, driven by expectations of fiscal expansion[21] - The market's inflation expectations increased, leading to a rise in the 10-year TIPS yield to 1.95%, despite the Fed's rate cut[24] ETF and Trading Volumes - Global SPDR gold ETF holdings decreased by 11.78 tons to 876.85 tons, indicating a continued decline in investor interest[11] - The cumulative trading volume for gold T+D rose by 2.82% to 165,700 kg over the past week[11]
黄金周报：特朗普赢得大选并大概率横扫“两院”，金价大幅调整
Dong Fang Jin Cheng·2024-11-13 13:16